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Crypto

U.S. Senate introduces crypto tax bill, proposes tax exemption for stablecoin payments

U.S. Republican Senator Steve Daines introduced a crypto tax overhaul bill on Sept. 30 that would exempt taxes on stablecoin payments and small network fees. The proposal seeks to reduce tax burdens for everyday crypto use while extending anti-avoidance rules used for stocks to cryptocurrencies. It would exclude certain U.S. dollar stablecoin purchases from capital gains and reporting requirements and set limits for network-fee transactions, with exclusions for traders, dealers and others.

Crypto

XRP rebound fails to lift investor sentiment as pessimism spreads in crypto communities

Investor sentiment toward XRP has fallen to its lowest level in a month, with pessimism dominating crypto communities. Santiment put the ratio of positive to negative comments at 0.67, while Ethereum\'s bullish-to-bearish comment ratio slipped to 0.89. Disappointment over stagnant prices has fueled gloom even as XRP Ledger posted institutional adoption gains. Santiment said extreme bearishness could be a contrarian signal, though sentiment can shift quickly.

Crypto

CryptoQuant says bitcoin shows overheating signals but still in early bull market

Bitcoin has entered the early phase of a new bull market, but short-term overheating and fatigue signals are also emerging, according to an analysis. CryptoQuant said bitcoin briefly rose to $87,400, an eight-month high, but upside momentum is slowing and the risk of a correction is increasing. Its bull score remained at 90 out of 100. The firm pointed to rising unrealised profits, heavier profit-taking and signs of selling pressure in altcoins.